Gilligan, Skipper, and Professor are partners with a profit and loss ratio of 4:3:3. The partnership was liquidated and, prior to the liquidation process, the partnership balance sheet was as follows: After the partnership was liquidated and the cash was distributed, Skipper received $96,000 in cash in full settlement of his interest. The liquidation loss must have been:

Question

Gilligan, Skipper, and Professor are partners with a profit and loss ratio of 4:3:3. The partnership was liquidated and, prior to the liquidation process, the partnership balance sheet was as follows:  After the partnership was liquidated and the cash was distributed, Skipper received $96,000 in cash in full settlement of his interest. The liquidation loss must have been:

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The Answer of Gilligan, Skipper, and Professor are partners with a profit and loss ratio of 4:3:3. The partnership was liquidated and, prior to the liquidation process, the partnership balance sheet was as follows:  After the partnership was liquidated and the cash was distributed, Skipper received $96,000 in cash in full settlement of his interest. The liquidation loss must have been:

Gilligan, Skipper, and Professor Are Partners with a Profit and Loss